{"id":160197,"date":"2020-08-23T09:00:26","date_gmt":"2020-08-23T08:00:26","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=160197"},"modified":"2020-08-25T04:39:34","modified_gmt":"2020-08-25T03:39:34","slug":"heres-why-dave-portnoy-is-already-selling-his-bitcoin-chainlink-and-orchid","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/heres-why-dave-portnoy-is-already-selling-his-bitcoin-chainlink-and-orchid\/","title":{"rendered":"Here’s why Dave Portnoy is already selling his Bitcoin, Chainlink, and Orchid"},"content":{"rendered":"

On Aug. 13, Barstool Sports' founder Dave Portnoy finally dived into Bitcoin and crypto after playing with the idea for a number of week<\/a>s. Portnoy, who has become a celebrity day trader since the pandemic began, got help from the Winklevoss Twins \u2014\u00a0Tyler Winklevoss<\/a>\u00a0and\u00a0Cameron Winklevoss<\/a>, co-founders of the Gemini crypto exchange and Bitcoin billionaires \u2014 to enter the market.<\/p>\n

The video showing Winklevoss Twins helping Portnoy buy Bitcoin and Chainlink<\/a> (LINK) was one that went crypto-viral, garnering over a million views.<\/p>\n

As funny as it was, Portnoy was quick to make money. In the three days after he bought his coins, the Barstool founder was purportedly up tens of thousands of dollars on his initial $250,000 investment.<\/p>\n

Unfortunately, his luck has run out. The celebrity day trader, who touts nearly two million followers on Twitter, announced on Aug. 21 that he is folding out of the Bitcoin and cryptocurrency market \u2014 potentially for good.<\/p>\n

Dave Portnoy liquidates Bitcoin and altcoin holdings in publicized fashion<\/h2>\n

Portnoy's crypto career began with a bang: he purchased Bitcoin and Chainlink with the help of some of the most famous people in the space and he secured sponsorship from BlockFi<\/a>.<\/p>\n

His crypto career is seemingly ending with a whimper, though.<\/p>\n

On the morning of Aug. 21, he noted<\/a> that he now owns zero “bitcoins,” referencing all cryptocurrencies and citing his losses in this nascent market:<\/p>\n

“I currently own zero bitcoins. I will wait and watch. I lost 25k. Just like with the stock market it took my brain time to figure it out. I know this. The Link Marines are weak and the orchid flowers do die in the crypto world. I may or may not be done.”<\/p><\/blockquote>\n

\n

I currently own zero bitcoins. I will wait and watch. I lost 25k. Just like with the stock market it took my brain time to figure it out. I know this. The Link Marines are weak and the orchid flowers do die in the crypto world. I may or may not be done. #bitcoin<\/a><\/p>\n

— Dave Portnoy (@stoolpresidente) August 21, 2020<\/a><\/p><\/blockquote>\n